Haslem, Hoffman, and Hutton (2012)
Haslem, Bruce, Aimee Hoffman, and Irena Hutton. “How Much do Corporate Defendants Really Lose? A New Verdict on the Reputation Loss Induced by Corporate Litigation.” Working paper (College of Business, Southern Utah University), March 13, 2012.
From the authors' abstract: "Using a comprehensive sample of 83,260 cases filed and resolved in U.S. Federal District courts, we extend the results of prior studies investigating market value and reputational losses due to corporate litigation. We find that while the average market value loss is much smaller than previously documented, it remains significantly negative. However, for all but securities and environmental litigation, this market value loss is explained by a rich set of cross-sectional firm and litigation characteristics, rather than reputational damages."
Link (published version): https://onlinelibrary.wiley.com/doi/abs/10.1111/fima.12171